Barcelona's Tourist Rental Ban: Will History Repeat Itself?

Barcelona's Plan to Eliminate Tourist Rentals: Will it Lower Housing Costs? Barcelona is planning to eliminate over 10,000 tourist apartments by 2028, hoping to reduce housing costs. However, a recent video analysis using New York City's 2023 ban as a case study suggests a different outcome. In New York, the ban led to an 80% decrease in Airbnb listings, dropping from over 22,000 to under 5,000. Despite this significant reduction, rental prices barely changed, while hotel prices surged by 56%, increasing from an average of $300 to almost $500 per night. Tourism simply shifted to neighboring areas like New Jersey. "The data suggests that simply banning tourist rentals may not be a solution to the housing crisis," says Sergio_excellence_circle, the author of the video. Barcelona's plan raises concerns that it might follow a similar pattern, potentially harming the city's economy without addressing the root causes of high housing costs. The city's mayor, Collboni, maintains that the ban will lower prices, but critics point to Barcelona's 70% increase in rental costs over the past decade as evidence to the contrary. The video highlights the potential risk of losing €1.9 billion and over 40,000 jobs. The question remains: will Barcelona learn from New York's experience, or will it repeat the same mistakes?